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now. we were listening to ben bernanke a short time ago. you see yield on that, down a basis point. we'll be right back. >> i'm dennis kneale with your fox business brief. u.s. builders trimmed their activity for a second straight month in august. construction spending slipped .7 of 1% to seasonally adjusted $837 billion. >>> honda expanding north american recall to include more than 600,000 accord mid-sized sedans. the recall aims to address a potential power steering fluid leak that could cause a fire under the hood t affects 2003 through 2007 model years equipped with v-6 engines. >>> more of us are getting our news on the go. a new pew research survey more than half of adult americans own a tablet computer or smartphone. one-third to view news as stories and video clips at least once a week the survey found 20% of mobile users said they paid for online subscription in the last year. fox business is free. that's the latest from the fox business, giving you the power to prosper melissa: it is quarter to. as we do every 15 minutes let's check on the markets. nicole petallides on the f
ben bernanke to the economic club of indiana today. his speech did little to push wall street forward. in fact, the market came off of the highs as the chairman started speaking. the chairman saying he doesn't see a recession, but that growth is still too slow to boost the jobs picture. listen to this. >> right now, we see an economy which is expanding. we see employment which is one of the key indicators of recession, still growing. so we expect the economy to continue to grow. that's our best forecast as of now. so we're not expecting a recession. that being said, with an economy growing only sort of 1.5% to 2%, that is not fast enough to lower the unemployment rate. that is my concern. >> all right. we have reaction now to that. and today's big gains in our "closing bell" exchange, plus we're talking strategies for the coming quarter. a quarter that has historically been good for the bulls. with us today, todd of black bay grou group. paul shots of heritage market. and our own rick santelli. paul, i'm going to start with you because you make a bold statement. you feel right now ben
it begs a question, how much trouble are we in? shortly ben bernanke would not have taken this extraordinary and unprecedented step of monetary easing -- >> before the election. lou: before the election if he did not think that he was anticipating a reality that has not presented itself yet. >> and that was a problem with the comment today from the fed had his beaucoup said, i don't think it's going to work. his boss, ben bernanke, saying, things are really ugly. i have the numbers. i think that probably we should do something now because it is serious. lou: always put that away. whether it is serious the fact of the matter is this housing market looks like it is offering some support. but when you look at the broader , macro economic reality you have to question even whether this is an illusion. i think -- >> it is not inconsistent to look at the housing market. going down so low for so long with interest rates so low. people have to live somewhere. iran has moved up. housing may have bottomed out. it does not mean we will have a bull market in housing. having said that,
in september for the first time in 4 months. but construct went down. and federal reserve chairman ben bernanke defended fed's policies for the first time since launching qe3, saying that fed needs to drive down borrowing costs because the economy is not growing fast enough to reduce high unemployment. surely there is a left in which employment can be created. >> there will belay offs at lockheed-martin in the beginning of the year, but they will not warn the employees of impeding li offs as it is legally retired to today, obama labor department told lockheed they do not need to abide by the law. telling lockheed it will cover potential legal costs if they incur any benpality, obama administration. clearly does not want those layoff notices delivered just days before the election. >> president obama downplaying expectations for wednesday's debate. saying he is an okay debater, according to a new washington post abc news poll, 55 percent of likely voters think that president will win this first debate, and 41% think that romney will win. joining me now, ed klein, author of "new york times" best
against inflation, though ben bernanke hasn't stopped printing money, nor has the central bank in europe, so one has to expect that there is still some concern about inflation along the line. but again, gold as well as oil coming down, and look at the foreign markets. this is what we woke up to, and it continued throughout the day through our close. the foreign markets really getting hit, over 2% in some of these foreign markets and that, of course, weighing very heavily on both the dow and the s&p. well, when the bell begins -- when the bell rings, the action begins. has the september swoon finally begun? we have two top strategists who are going to duke it out, a bull and a bear. also 55% of new small business other thans say they would not start a company today. the reason? regulations. we're going to be talking to the ceo of the national federation of independent businesses about what they want to see get done. also top strategists breaking down how to play the housing recovery. since he last joined us, his recommendation is up more than 25%. now that we have today's pullback, is it
growth broke a four-month roadblock sparked an upbeat mood on the street. fed chief ben bernanke renewed the central bank's pledge to keep record low interest rates to spur the economy, even after it regains momentum. >>> analysts say winter holiday shopping will rise 4.1% this year. that's slightly lower than predictions for the past two years. >>> jpmorgan chase is the first target of a justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns, bought by jpmorgan in a fire sale, carried out billions of dollars in mortgage-backed securities fraud. >>> american express has agreed to pay $112.5 million to settle federal charges of illegal late fees. >>> the multibillion-dollar fraud carried out by bernard madoff began as far back as the early 1970s. that's according to a rewritten indictment bringing new charges against four longtime madoff employees. >>> a trader joe's peanut butter recall linked to cases of salmonella has now spread to nut butter recalls at multiple national chains including whole foods, target and stop 'n shop. >>> honda is recall
that manufacturing growth broke a four-month roadblock sparked an upbeat mood on the street. fed chief ben bernanke renewed the central bank's pledge to keep record low interest rates to spur the economy even after if regains momentum. >>> analysts say winter holiday shopping will rise 4.1% this year. that's slightly lower than predictions for the past two years. >>> jpmorgan chase is the first target of the justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns, bought by jpmorgan in a fire sale, carried out billions of dollars in mortgage-backed securities fraud. >>> american express has agreed to pay $112.5 million to settle federal charges of illegal late fees. >>> the multi-billion dollar fraud carried out by bernard madoff began as far back as the early 1970s. this is according to a rewritten indictment bringing new charges against four long-time madoff employees. >>> a trader joe's peanut butter recall linked to cases of salmonella has now spread to nut butter recalls at multiple national chains including whole foods, target and stop & shop. >>> hond
to a meeting -- they had already made the decision what they were going to do. ben bernanke, i like and respect him. we had a good relationship. i was very disappointed -- we did talk from time to time. th tim, i never felt that was the case. i felt like they were off making decisions and asking me to comment to let me knowh w going on. young women asked me about this. you kind of drive yourself crazy wondering if it is about gender or not. understand that you were going to have to work harder and be better prepared. do not give up, you have the right to be heard and part of the decision making. tavis: there are a number of names floating around in washington right now about who will tm geithner's place. he is not going to stick around. i have seen your name on a number of short list. would you serve? >> i am not looking for -- i am going to dodge that question because i am not looking for a government job. this is a very straightforward but. i would be alienating some people. i decided it was more important to get the facts on the table so people could understand there were different perspecti
all week. fed chair ben bernanke's latest take on the economy will also get a lot of attention when minutes from the federal reserve's latest policy meeting are released. september auto sales are also on tap. some experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to protest sweeping budget cuts and austerity measures included in a 2013 draft budget. >>> elsewhere, on the heals of apple's debut of the flawed apple app, oracle customers sl l have access to nokia's services. >>> hewlitt packard is set to roll out a new device that will work with microsoft's new windows 8 operating system. the elite pad 900 comes at a time when, according to new research, half of all adult americans now own either a tablet computer or a smart phone. >>> and finally, who says that crime doesn't pay? two guns that belonged to famed partners
chairman ben bernanke. he'll discuss the fed's new stimulus program. stocks fell after the fed official said the plan will not create jobs. today medicare starts changing the way it does business. the agency will begin fining hospitals that has too many patients return within 40 days because of complication. it could affect 2,200 facilities and the average fine would be about $125,000. and an auction featuring the most famous outlaws in history raked in more than a million dollars. bonnie and clyde went down in a hail of gunfire, bonnie parker had a .38 taped to her thigh. yesterday the guns were auctioned off to the same bidder for a total of $524,000. wh >> ashley morrison here in new york. up next your monday morning weather and in sports a bizarre pre-game collision knocks down redskin starters and knocks them out of the game against the bucs. ♪ [ dog barking ] ♪ [ female announcer ] life is full of little tests, but your basic paper towel can handle them. especially if that towel is bounty basic. the towel that's durable and scrubbable. in this lab demo, bounty basic is stronge
reserve board. this republican ben bernanke who preceded obama recognizes one very visible thing, the obstruction that's going on in congress renders the fiscal policy -- and you recognize that there's outright obstruction going on in congress that stops any fiscal policy, what are you going to do? >> what policy? >> it's the only tool left. >> i talk to republicans all the time. i'm a reporter, they're really thinking of this as a political issue. this is a stimulus pae f obama and obama and the a republicans should be embracing this. >> romney has said that he opposes this -- romney has also said that he will not reappoint ben bernanke. there's not a lot of sympathy for bernanke inside that campaign or the gop, that interests me a lot. i'm asking a difficult question, i don't think there's a direct -- i'm not saying that bernanke is deliberately doing qe-3, because probably it won't work in the next six weeks anyway. >> it hasn't worked up until now. >> the federal reserve is like the supreme court, it's now controlled by left wing democrats. >> here's what i think, this is buy
about you by ben bernanke, will serve as a bridge over fiscal cliff and not take us down. the federal stance will take higher paying dividend companies into gems, seeking income, we'll band in bonds of cash poor countries and buy cash rick countries with yields that well exceed treasuries and still own a lot of gold. there's not a nation on earth that doesn't want its currency lower. that reserve currency is gold. also not to toot my own horn too hard, but throughout this period i recognized primacy of some bigger stocks, intel, wells fargo, verizon come to mind or the recognition you must own, not trade, own apple until it's too expensive versus it's growth rate and it's not near there yet. you have now heard pretty much everything. you've heard the last of when i've done over the last 12 months, at least for this evening. while i can already see the youtube about how cramer himself admits he's always getting things wrong, i thought for posterity i should lead with something more positive about "mad money," the youtube clips you post or go on jim cramer economics, hey, knuckle head,
component of cpi? so, i could be ben bernanke's speech writer because he says the same thing every time he goes in front of the senate is we don't see any particular problem with inflation. really, we don't corn prices just nearly double in three months. so, how is it there is no inflation? >> reporter: do you get any sense that the ethanol mandate is going to change under either administration under obama or if romney would get elected? >> well is sure seems like the word ethanol has turned into a pejorative and it's not exactly the most positive topic. i just don't know that turning food into gasoline is necessarily what we want to be doing in the long term. >> reporter: and it affects this market? >> you bet it does. as corn prices go up cattle prices go up. simple as that. that's an input cost to feeding cattle is corn, so you've got to take cattle prices higher to offset that. >> reporter: thanks very much. >> you bet. >> tom: a quiet ending to the third quarter for stocks the major indices falling. the s&p 500 spent the entire session in negative territory. it made three failed attem
. today investors will hear from federal reserve chairman ben bernanke. he'll discuss the fed's new stimulus program. aimed at buying morning backed securities. stocks fell after the fed official said the plan will not create jobs. today medicare starts changing the way it does business. the agency will begin fining hospitals that has too many patients return within 40 days because of complications. it could affect 2,200 facilities and the average fine would be about $125,000. and an auction featuring the most famous outlaws in history raked in more than a million dollars. bonnie and clyde went down in a hail of gunfire, bonnie parker had a .38 taped to her thigh. clyde had a .45 in his waist. yesterday the guns were auctioned off to the same bidder for a total of $524,000. >> ashley morrison here in new york. up next your monday morning weather and in sports a bizarre pre-game collision knocks down redskin starters and knocks them out of the game against the bucs. pre-game collision knocks down redskin starters and knocks them out of the game against the bucs. ♪ [ dog barking ]
.4%. for three straight quarters, the european economy has been rinking and federal reserve chairman ben bernanke said today amica is feeling the impact. >> it has been a problem for the oblemeconomy. we have seen head winds coming from slowing trade. >> reporter: if you combine rtports and exports, the european union is our biggest trading partner. >> so we have a very strong troerest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. oup,hat brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united states back to e healthy and manageable deficit. ck reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. lledratings agency fitch has genc uncertainty about u.s. fiscal policy is the single- olggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. ther is precisely what the ame
for behind the scenes piece. it was how ben bernanke worked and got qe3. >> it brings the consensus. >>> next at the brink, we're taking a deep dive into the escalating turmoil across the middle east. "the daily rundown" will be back in 30 seconds. >>> new violence and turmoil across the middle east and afghanistan is putting the u.s. on edge. deep dive is about the renewed focus on the region that is at the brink. from israel and iran to libya and syria. situations are deteriorating in some places with alarming speed. in afghanistan, attacks by the taliban and afghan security are forcing the u.s. to rethink its commitment to america's longest war. a string of suicide attacks in iraq show a country still racked with sectarian violence nine months after america's exit there. in libya, of course, the u.s. is grappling with questions about security lapses in the wake of the murders of the ambassador. >>> they battle bashar al assad's regime. your all of it is the escalating confrontation between israel and iran which has become the flash point. mitt romney warning, quote, if the middle east desc
, it will keep doing so as long as ben bernanke keeps it going, i think, we have catted chatted about this before, we live in an environment, where each party is captive to the extreme elements that don't want to budge. if you try to rein in the growth of entitlement you are throwing grandma off the cliff on your side, if you try to address you know closing loopholes and credits and allowances that allow some, to not pay taxes you raise taxes so tea partiers hate you, you can't move the ball forward whether that is how we play the game. >> there needs to be honesty here, sam nun has it right, the challenge is not because of anything that republicans have done or democrats have done, but because of changing demographics am demographic trends are the most difficult to change. and they have been coming at us for years, and we have known this is coming for years, we keep putting it off, saying, well, i'll just demagogue the issue in this election, then we'll deal with it later on. well, you can't do that. the baby boomer started retiring. started swelling the ranks, demographically of the people draw
: by the way, governor, ben bernanke was talking about it yesterday. recession, whether we're in one or not. he of course said no. other people, economist david malpass and others say we may actually be in recession right now. did you ask that of your executives or do they have a consensus whether we're in one or going towards one? >> we didn't ask it that way. we ask every quarter what do they think gdp will be. this is the last time we ask for 2012. they dropped from 2.1 to 1.9 growth. you saw official revision in the last quarter all the way down to 1.3. what is bothering families, family incomes dropped four consecutive years. 8% over the last four years. home values are still suffering in so many areas around the country. i think for families they know somebody in the family. the extended family is laid off unemployed looking for work. they don't feel so good about their own circumstances. their confidence is shaken but more importantly the company that might hire them is wondering what are the rules? can i go out and hire? can i invest. we have lot of work to do. we would like to increase
. my point here, carl, is don't fight ben bernanke. if he came out and said, ladies and gentlemen, me and mr. drogy and i want people to buy stewed prunes, everybody should listen carefully. you may think it's wrong, but i sure would not go out and short stewed prunes on that idea. that's the problem that a lot of people are having. a lot of people are underperforming the market because their ideologies are getting in the way. >> thank you. let's get another capital markets op-ed. gary, talk a little politics. >> we'll get to that in a second. i steered clear of politics for quite some time. but let me talk about a cool breeze about what's happened. think back to mid-august. we did that informal survey. we asked people what would be the most important factor for the equity markets in 2012. 65% said it was going to be the election, if you remember. it has not been the case since mid-august. and as e we said all along, it's been about central banks. i do think that's going to change. i think politics will once again become something that has an impact on the equity markets. that it will
opposite of a mandate to take away the punch bowl once the party gets started. now ben bernanke is going to keep it flowing for as long as it takes. we could be for three days. plus, one more unthinkable, a slowing chinese economy. the great engine of growth that has supported global commerce for years. >> all aboard! >> including the darkest days of the great recession. and what's happened? the stock market never quit. never stopped climbing, it has a remarkable run with almost every sector leading the charge at one time or another, the great rotation. and before i go into the by remistations for the evening. i told you not to waver, to stay the course, the slowdown against china, and the growth that is the united states. the diverse portfolio of high-quality stocks, income producers, and growth stocks with solid dividend boosts. and of course, some gold. these have all been the correct calls to make. i've stuck with it because i believe the europeans are not suicidal. so far, so good on that front. i believe the chinese economy will simply come back by the virtue of the fact there is s
ben bernanke is pushing for higher inflation. is his real inflation target not 2%, but like 4%, 5%? if he could wave a magic wand, would he do that? >> they could have a secret vote. it would be in excess of three, for sure at least in the near term. the fed told us they would do whatever it takes to get what they want. they haven't exactly told us what they do or what they want. >> all right. what they want is a lower unemployment rate, isn't that fair? >> right. but they have lower unemployment in the price stability. what's going to happen is you're going to get fomc participants litigating the issue in public. like charlie plaszer yesterday talking about how policy won't be effective and charlie evans today talking about -- >> but they always do that. bernanke, that board is all obama appointees. and it's the liberal left keynesian board. it's an inflationist board. you as great economist and forecaster, right now the inflation numbers, they don't look scary at all. cpi, so forth, commodity prices, none of that stuff is booming. what do you think is the earliest time? a year f
of the gains after federal reserve chairman ben bernanke defended the central bank's latest bond buying stimulus program. is that a red flag that this fed-fueled rally is in trouble? top strategists are weigh in tonight. take a look at how we're finishing the day on wall street. as you can see, things settled out, dow jones industrial average held on to a double-digit move, although well off of that 161-point rally. the nasdaq went negative, although it, too, came back off of the worst levels finishing flat on the session. that had everything to do with apple. apple stock today down bringing the rest of the market down with it. it is in so many portfolios. s&p 500 up. it's the last day of the quarter of the year. we closed off the highs of the day. not a bad way to kick off the fourth quarter. is today's performance a good indicator of what's ahead? should investors be bracing for a rocky road going into year end? i bring in right now wells fargo adviser, chase investment council, peter, cnbc.com's jeff cox, our own rick santelli. good to see you all. thank you so much for joining us. w
chairman ben bernanke defended a controversy program to buy up $40 billion in mortgage debt every month until employment improves. the slowing economic recovery forced the feds to resort to such unusual measures after lowering interest rates to next to nothing failed to turn things around. critics of the plan say it could lead to inflation in the future. an amtrak train has derailed in central california after officials say a big rig truck slammed right into it just south of fresno. as many as 40 people reported hurt in the crash. when several cars jumped the tracks. trace gallagher in our west coast news hub now. trace, exactly how did this happen. >> well, the train was heading south from oakland to bakersfield. it crashed in a town called hanford which is 30 miles outside fresno it appears that a truck carrying a cotton by product actually blue through the signal and crashed into the train. it looks like three of the five railcars are off the track. you can see two of them there at a 45-degree angle. the people inside were tossed about. 169 on board. 40 injured. at last check 17 were
of the federal reserv ben bernanke said in a speech that the economy still isn't growing fast enough to cut into unemployment. in the end, the dow jones industrial average gained 78 points to close at 13,515. the nasdaq fell more than two points to close at 3113. another major auto recall is in the works. honda announced plans to check more than 500,000 accords in the u.s. for a defective hose that can leak fluid and catch fire. the problem affects model years 2003 through 2007 of v-6 engine cars. the accord is the second best- selling car in the u.s., after the toyota camry. white house officials have acknowledged an attempt to hack the executive mansion's computer system. the associated press reported today the recent effort targeted an unclassified network, but the officials said the attack was spotted and stopped. there was no word on who was behind the attempt. a founder and leader of modern ecology, dr. barry commoner, died sunday. his work on radioactive fallout helped lead to the nuclear test ban treaty in 1963. he also was a prominent figure in the first "earth day" in 1970, and ev
of white noise, maybe people listen to ben bernanke yesterday. it just didn't add up. i can't tell you what was going on. >> what didn't add up, rick? how about the milton friedman stock? i know you've been all over that all day, so i brought a quote for you, rick. >> uh-oh. >> i brought a quote. milton friedman in his own words. now, rick, i know what you said, that anna schwartz -- >> i figured you were on for a reason today. >> what's that? >> i figured you were here for a reason. >> go ahead. >> i'm here to talk about jobs, but if we could have an aside, discussion, me and rick on the side. here's what milton friedman said in his own words in 2000. now the bank of japan's argument is, oh, well, we've got the interest rate down to zero, what more can we do? it's very simple. they can buy securities and they can keep buying them and providing high-powered money in until the high powered money gets the economy in an expansion. >> must have been a fun dinner conversation around the friedman table. >> exactly. >> i'm only talking about credit crisis issues. only give me quotes after the summ
it comes up federal reserve of washington, d.c. my theory is ben bernanke knows where jimmy hoffa is. come clean, mr. bernanke. let's setting this once and for all. >> the feds on line 2 for bob. >> it impressed me people didn't know who jimmy hoffa was. there's going to be a time i'm going to have to explain to people who o.j. simpson was. >> time goes by. >> unbelievable. very depressing. >> we can find o.j. we haven't been able to find the real killers yet though apparently. >> i'll leave it at that. >>> in one of the best tweet smackdowns ever, oreo recently asked followers if they had ever brought cookies into a movie theater. yes, i have. which prompted this response from amc theaters. "not cool, cookie. a reference to its no food policy. oreo quickly fired back. fair enough but don't hate the player, hate the game. and back and forth it went with amc's answer game on, oreo. game on. jane and bob, what do you think? this kind of social engagement help or hurt the brands themselves. jane? >> i think it helps very much. particularly amc theaters which has twice as many followers on twi
Search Results 0 to 49 of about 69 (some duplicates have been removed)